{
    "ucits": false,
    "type": "ETC",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": "Leverage, Derivatives, Complex Indices, Roll costs/Contango/Backwardation effects",
    "classification": "complex",
    "supporting_data": "The WisdomTree WTI Crude Oil 3x Daily Leveraged ETC is not a UCITS but an Exchange Traded Commodity. It provides 3x daily leveraged exposure to a commodity futures index, which is achieved through the use of derivatives (futures contracts), not swaps. The product is highly leveraged, reset daily, and its performance is subject to compounding effects and roll costs, which are complex concepts for retail investors. The underlying index is a commodity futures index, which introduces additional complexity due to contango and backwardation effects. The product is intended for informed investors and carries the highest risk indicator (7/7). These featuresu2014leverage, derivative use (futures), complex index mechanics, and the presence of roll costsu2014make the product difficult for a retail investor with basic knowledge to understand, thus meeting the criteria for a complex instrument under MiFID II Article 57 and related ESMA guidance. The product is not protected by any investor compensation scheme, and the issuer may terminate it unilaterally, adding further complexity and risk."
}